Yahoo Finance Western Digital (WDC) Announces New Sustainability Goals
Western Digital WDC recently announced a new set of sustainability targets to tackle climate change crisis. Companies all over the world are focusing more and more on sustainable projects to reduce the impact of their products and services on environment.
The company’s new goals focus on powering its entire operations using solely renewable energy sources by 2030. It targets to achieve net zero Scope 1 and 2 emissions across its operations by 2032.
WDC is also paying attention to reduce water consumption and adopt a more sustainable waste management process. It is targeting to divert more than 95% of its operational waste from landfills and reduce 20% of water withdrawals by 2030.
Western Digital Corporation Price and Consensus
Western Digital Corporation price-consensus-chart | Western Digital Corporation Quote
The company achieved nearly 15% absolute Scope 1 and 2 emissions reduction ever since its targets were approved by Science Based Targets initiative in 2021.
It is also striving to reduce at least 10% net zero fuels by 2030 for ocean shipping. Notably, WDC’s facilities in Shanghai and Penang have been recognized by the World Economic Forum’s Lighthouse Network as Sustainability Lighthouses.
Headquartered in San Jose, CA, Western Digital is one of the largest hard disk drive (HDD) producers in the United States. It designs, develops, manufactures and markets a broad range of HDDs used in PCs, servers, network-attached storage devices, video game consoles and digital video recorders. Also, WDC is a host of other consumer electronic devices.
Western Digital’s performance is being affected by softness across all business segments. The cloud end market was negatively impacted due to lower flash pricing and lower shipments of both hard drives and flash products. The client end market is affected by reduced client SSD and hard drive shipments for PC applications.
However, WDC’s performance is being cushioned by strong demand for WD_BLACK SSD. Going ahead, it expects flash bit shipment to gain momentum in the first half of fiscal 2024. Frequent product launches like BiCS8 and strategic collaboration are likely to bode well in the long run.
Western Digital currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the broader technology space are Dropbox DBX, Badger Meter BMI and Blackbaud BLKB. All stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have gained 3% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have soared 90% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 9.3% in the past 60 days to $3.75 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of BLKB have improved 22.3% in the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Western Digital Corporation (WDC) : Free Stock Analysis Report
Blackbaud, Inc. (BLKB) : Free Stock Analysis Report
Dropbox, Inc. (DBX) : Free Stock Analysis Report
